Following on from three acquisitions within 18 months, Marlin Home has taken over its fourth brand as the company continues its mission to expand its lifestyle brands portfolio rapidly.
After acquiring Albi in June 2016, The Décor Corporation in February 2017, VGM International in March this year and now Independence Studios, Marlin Home managing director Greg Karr says it has been a very busy year for the company as it builds out its lifestyle brands portfolio, which has a strategic focus on the in-home categories and lifestyle driven sectors around the home.
“We’ve acquired four leading Australian wholesale businesses in a little over a year for a total investment of circa $145 million, and so far we are pleased with our investment decisions,” he explains.
Amazon is on the way, and how that will impact the local market is the million dollar question, but Kerr sees it as an opportunity and a new marketplace with the potential to partner with Amazon down the track for some of his brands.
“We believe diversity is the key to de-risking investment, and we’ve got an incredibly broad range of brands under our umbrella and a wide range of channels to reach customers including independent stores, major groceries, big box retail, specialty and convenience.”
Kerr says the latest deal with Independence Studios is a great opportunity for Marlin Home to enter into a new market with giftware and gain exposure to a very different customer base.
“Our diversification across categories, brands and channels is a key differentiator and we always learn something new through the process.
“Independence Studios is the market leader in gifts, and has a strong track record, great brands and a broad customer base. The business is also relatively recession proof. Even when times are tight, people will still treat themselves or treat someone else to a little gift and these are not luxury products, but affordable fun gifts.”
Founder of Independence Studios, James Smail, and co-shareholder Ian Hardy are excited about the next chapter for the gift brand, which was launched in 1987 selling kaleidoscopes and other artisan wares at Sydney markets and has grown into one of the industry’s most valued wholesalers with 60 employees, 30 international brands and 3,000 stores Australia wide.
“Joining the Marlin Home group is a logical step for us, with many synergies that will benefit our complementary customer base,” Smail says.
“We feel together we are able to grow on the strengths of our previous success and secure a very positive future for our team and the group. It’s an exciting move and I’m enthusiastic about what we will be able to achieve going forward.”
Marlin Home will continue on its acquisition trail and is planning to purchase more quality Australian brands in the lifestyle and homeware sector ahead of a potential ASX listing in the mid-term.
By Marion Gerritsen
